Egypt changes head of wheat importing body GASC

Wednesday 29-06-2016 11:38 AM

Wheat harvest in Egypt. REUTERS

By Reuters

ABU DHABI, June 28 (Reuters) - Egypt, the world's largest wheat importer, has changed the head of its main state grain importer, the General Authority for Supply Commodities (GASC).

The vice chairman of GASC is considered one of the most powerful figures on the global wheat market, overseeing the strategic buying of the grain for Egypt, which operates a massive bread subsidy programme that feeds tens of millions of poor Egyptians.

Mamdouh Abdel Fattah will move to head another state body, the Food Industries Holding Company as of July 1, he confirmed on Tuesday.

"Tomorrow will be my last working day at GASC," he said.

Mamdouh declined to comment on who would replace him at GASC but three trading sources told Reuters he would be replaced by a colleague in the purchasing department called Ahmed Youssef.

Abdel Fattah has been in charge of the agency since early 2013 when he replaced the previous vice chairman Nomani Nomani. (Reporting By Maha El Dahan; Editing by Greg Mahlich)

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